October 24, 2023: Binance, the world’s largest cryptocurrency exchange, has announced that it will discontinue its Visa debit card services in the European Economic Area (EEA) on December 20, 2023.1
The Binance Visa debit card allowed users to convert and spend cryptocurrencies in more than 60 million online and physical stores worldwide. It was available to residents of European countries, including France, Germany, and Spain.
However, Binance has not formally disclosed the reason for the decision to discontinue its Visa debit card services in the EEA.
The discontinuation of the Binance debit card is the latest in a string of setbacks for the company. In recent months, Binance has faced regulatory scrutiny in a number of countries, including the United Kingdom, the United States, and Japan. The company has also been criticized for its poor customer service and its failure to adequately protect its users from fraud.
The decision to discontinue its Visa debit card services in the EEA is a significant setback for Binance. The company has a large and growing customer base in Europe, and the debit card is one of its most popular products in the region.
One report said that the discontinuation of Binance’s Visa debit card services in the EEA is partly due to regulatory pressure.
- Binance: https://www.binance.com/en/feed/post/1430626?ref=516042411The decision comes after Binance’s card issuer, Contis Financial Services, decided to stop issuing cards in the EEA[↩]
